VanEck Steel ETF (NYSEARCA:SLX) Short Interest Up 143.6% in July

VanEck Steel ETF (NYSEARCA:SLX) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 65,695 shares, an increase of 143.6% from the July 15th total of 26,966 shares. Approximately 4.1% of the shares of the company are sold short. Based on an average trading volume of 28,844 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Trading of VanEck Steel ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. LPL Financial LLC lifted its stake in shares of VanEck Steel ETF by 248.9% during the 4th quarter. LPL Financial LLC now owns 122,968 shares of the exchange traded fund’s stock valued at $10,435,000 after buying an additional 87,726 shares in the last quarter. Raymond James Financial Inc. raised its holdings in VanEck Steel ETF by 3.9% during the third quarter. Raymond James Financial Inc. now owns 96,849 shares of the exchange traded fund’s stock valued at $7,020,000 after acquiring an additional 3,655 shares during the period. UBS Group AG lifted its position in shares of VanEck Steel ETF by 241.1% in the third quarter. UBS Group AG now owns 59,094 shares of the exchange traded fund’s stock valued at $4,283,000 after acquiring an additional 41,768 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of VanEck Steel ETF by 747.3% in the fourth quarter. Cetera Investment Advisers now owns 41,636 shares of the exchange traded fund’s stock valued at $3,533,000 after acquiring an additional 36,722 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of VanEck Steel ETF by 12.5% in the first quarter. Bank of America Corp DE now owns 28,573 shares of the exchange traded fund’s stock worth $2,623,000 after acquiring an additional 3,171 shares during the period.

VanEck Steel ETF Trading Down 0.5%

VanEck Steel ETF stock opened at $107.96 on Friday. VanEck Steel ETF has a 12-month low of $68.20 and a 12-month high of $114.00. The firm has a market capitalization of $172.74 million, a price-to-earnings ratio of 14.09 and a beta of 1.23. The firm has a 50 day moving average of $103.77 and a 200 day moving average of $100.86.

About VanEck Steel ETF

Market Vectors Steel ETF (the Fund) seeks to replicate as closely as possible the price and yield performance of the NYSE Arca Steel Index (STEEL or the Index) by investing in a portfolio of securities that generally replicates STEEL. STEEL, calculated by the NYSE Alternext, is a modified market capitalization-weighted index consisting of publicly traded companies predominantly involved in the production of steel products or mining and processing of iron ore. The Index includes companies primarily involved in a variety of activities related to steel production, including the operation of manufacturing mills and fabrication of steel products.